Bahrain

Evergrande effect hits aluminium prices, but supply curbs are good for ALBA

  • Aluminium prices touched US$3,000 first time in 13 years on September 13, but corrected due to Evergrande and Alcoa

  • Persisting supply curbs are positive for prices and Aluminium Bahrain. We raise our aluminium and alumina forecasts

  • We increase our 2021f EPS to BHD0.30 (previously BHD0.244) and our target price to BHD0.89 (previously BHD0.83)

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Janet Ogabi @ Tellimer Research
September 23rd, 2021
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The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly related to the specific recommendations or views expressed in this report.